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My Financial Advisor | My Biggest Complaint
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My Biggest Complaint About My Financial Advisor


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My financial advisor calls me once a month. He sends me some promotional newsletter in disguise every few weeks.

My biggest complaint about my financial advisor is really the same as it is for all other financial advisors and stock analyst. If you’ve got all these great ideas about money, why the hell are you still working at all?

Why haven’t you taken your own fantastic advice and retired by now?

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9 Comments

  1. your complaint begs the question; “why are you using this guy as your financial advisor?”

  2. @DBlock, valid question. He’s just the guy that the brokerage firm has assigned to the account.

    It doesn’t really matter though because like I said, my complaint is the same for everyone in the industry. It doesn’t matter if we’re talking about some analyst on a financial show or someone in a brokerage firm like my situation.

    If they have all this information and are such experts, why are they still working in the first place?

  3. oh, well in that case I think the response would be this:

    Those who make big money in a short while are rare. They may have gambled a great deal of money on something that wasn’t a sure deal and gotten lucky. They may have come up with some innovative idea precisely when the world needed it.

    Financial advisors won’t tell you to put all your money on one underdog stock because there’s such a slim chance that it’s going to blow up and make you filthy rich. Instead they instruct you to be safe with your cash. Save as much of your money as possible and put healthy portions into mutual funds that consistently (and slowly) increase in value. That’s what they themselves are doing and that’s why they aren’t buying their own islands. There is only room on this Earth for a select few filthy rich people, the rest of us have to get rich the slow way.

    Of course that doesn’t mean that your financial advisor isn’t a complete moron telling you to do stupid things with your money.

  4. I agree with you completely slappy, so much so this complaint inspired me to post this one about the sports betting expert guys that do basically the same thing.

    @DBlock, you’re right about the slow pace of investing, but the feeling I’m getting from slappy is that this is a usual thing, month in and month out. How good and how different can things get month to month if you’re in it for the long haul anyway?

  5. You are probably dealing with a stock broker and not an advisor. I am an advisor and would not call you every month. However, I do expect to see my clients at least once a year. Religiously. It should not have to be a sales call all the time.

  6. I was recently widowed, and a friend gave me the name of their
    financial advisor, he came to my home, and everything was fine for roughly 2 years and last year he sold an annuity, before I turned 591/2 and this year I had to claim the money it made and was subjected to a 10% penalty because he cashed it in before I was 591/2, I am very upset to say the least, but I thought he was looking out for my best interest, and I found out he was all for himself. Yes I did sign the papers, but having all my faith in him, didn’t fully read what I was signing, shame on me, and I was taken. I wrote and complained to the firm, but it fell on deaf ears, read everything its a doggy, dog world there is no one you can trust.

  7. Lynne,

    You need to look at their ADV and see if they are ruled by the SEC or a state security agency. Regardless, you should report them.

    EA

  8. axa philippines destroyed my family.my wife works almost 24 hrs just to pleased this ****ing cult.she has no more time for me and our daughter.i hate this company.you people out their.please dont ever,ever,ever invest this ****ing cult…

  9. Hello:
    For anyone currently in such a position as Lynne above
    who signed before age 59.50.
    or any time sensitive issues that have been handled
    incorrectly please report it to the Trustee, Bank
    or Compliance Organization attached to the investment.

    When you sign, you are supposed to read it, yes, but also
    the Advisor is the Advisor and is supposed to
    do due dilligence to make sure that all the dates
    are lining up as they should. That’s their responsibility
    and it should be investigated. Always.

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